Islamabad 3 August: Federal Minister for Commerce Jam Kamal Khan chaired a high-level meeting of the Trade Review Committee to assess Pakistan’s trade performance for the fiscal year 2024–25.
The session brought together senior officials from the Ministry of Commerce to evaluate sector-wise progress and chart forward-looking strategies in the face of global economic turbulence.
Despite international trade challenges such as tariff tensions, shrinking major markets, competitive pricing pressures, and geopolitical uncertainty, Pakistan’s exports grew by $1 billion, reaching $31.75 billion in FY2024–25, up from $30.76 billion the previous year.
Textiles and Emerging Sectors Drive Growth
The textile and apparel sector remained a powerhouse, with:
- Knitted garments increasing by 15%
- Woven garments up by 16%
- Home textiles growing by 9%
Non-traditional exports showed remarkable performance:
- Tobacco and cigarettes surged by 135%
- Plastic products rose by 17%
- Cement exports jumped 25%
Additionally, pharmaceuticals and ICT-related services recorded steady growth, underlining the economy’s expanding diversity. Minister Jam Kamal Khan commended the resilience of these sectors, emphasizing their role in ensuring long-term trade sustainability.
Imports Reflect Rising Industrial Confidence
On the import side, capital goods witnessed a 24% increase, signaling a rebound in industrial activity and a boost in consumer confidence.
Strategic Reforms Announced
To build on this momentum, Minister Kamal Khan outlined several key initiatives:
- Country-specific export plans targeting non-traditional and emerging markets
- Establishment of a Trade Alert System to address global disruptions such as SPS/TBT barriers and trade remedies
- Revitalization of Sectoral Export Councils for better public-private dialogue and evidence-based policymaking
- Adoption of AI and data analytics for trade intelligence and smarter global outreach
- Launch of a national strategy for services exports, focusing on ICT, freelancing, and the creative economy
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In his closing remarks, Minister Kamal Khan stated that the robust export performance was a testament to Pakistan’s evolving trade ecosystem. He stressed the need to sustain the momentum through innovation, market diversification, and strategic foresight.
“The resilience of our exporters, especially in non-traditional sectors, is commendable. We must now focus on consolidating gains and exploring untapped global markets,” he said.
